By: Liam Payne
Hydrogen Peroxide has been gaining immense popularity as an industrial chemical. High purity hydrogen peroxide is in great demand as it is used in a wide variety of industries. This includes paper and pulp, semiconductors and various other uses.
High-purity hydrogen peroxide is sought-after
High-purity hydrogen peroxide is sought after for a variety of applications, including semiconductor chip fabrication, food processing, and detergent production. It is also used as an oxidizing agent for various industrial applications.
The market for high-purity hydrogen peroxid is expected to increase at a 5% CAGR during the forecast period. The global market is expected to reach USD 1.3 billion in 2021, with Asia Pacific capturing a market share of around half the overall demand. Increasing demands for pulp and paper products and the food and beverage industry in China and India are driving the Asia Pacific market.
One of the most common uses for high-purity hydrogen peroxide involves its use in etching and cleaning the surface of semiconductor chips. This process requires a high purity hydrogen peroxid to remove organic impurities from the surface of the wafers.
Another application is in the production of propylene oxide. Other industrial applications include its use as a bleaching agent in the production of pulp and paper.
Paper & pulp industry
Hydrogen peroxide manufacturers and suppliers in the paper & pulp industry play a major role in enhancing the quality and brightness of tissue and board. It is used for bleaching and delignification purposes. The increasing demand for recycled paper and flexible packaging materials is driving the growth of the hydrogen peroxid market.
Asia Pacific holds the largest share in the global hydrogen peroxide market. This is attributed to the growing population in the region, rising consumption of electronic equipment, and increasing awareness about the applications of hydrogen peroxide.
Europe is the second-largest consumer of hydrogen peroxid. The major contribution to this market is attributed to Germany. In addition, governmental efforts are also contributing to the global market growth.
Globally, the demand for hydrogen peroxid will continue to grow in the paper & pulp industry. Increasing awareness about its applications is expected to drive growth in the APAC market. As a result, the market is forecast to reach USD 4.0 billion by 2027.
High purity hydrogen peroxide is one of the key chemicals used in the manufacturing of semiconductors. As the Internet of Things (IoT) advances and the number of semiconductor chips increases, demand for high-purity chemicals is expected to increase. Hydrogen peroxid can help chip manufacturers achieve the highest yield possible.
With increasing demand for modern technologies, manufacturers are investing in new hydrogen peroxide production plants. They are also focusing on better product quality and increased market share. This is a major driver for the growth of the market. However, a lack of proper waste management can hinder the growth of the industry.
The semiconductor industry has been experiencing rapid expansion. Manufacturers are focusing on improving their performance and supplying lower cost products. Some companies are also concentrating on expanding their manufacturing capacity. These efforts are anticipated to be a significant driver for the growth of the hydrogen peroxide market.
In the last five years, the price of hydrogen peroxide has been increasing. It is predicted that the prices will further rise in the coming years.
Middle East & Africa
Hydrogen Peroxide Manufacturers and Suppliers in the Middle East & Africa are poised to achieve high growth. The region is home to a large number of manufacturers that are investing in the expansion of their production capacities. Various factors are expected to influence the market positively and negatively. Moreover, the market is expected to witness growth in the next six years.
Increasing use of hydrogen peroxide in pulp and paper industry will be one of the major drivers of the market. Furthermore, the demand for hydrogen peroxide is increasing in the chemical processing sector, as well. Besides, the growing usage of hydrogen peroxide in water treatment is also likely to boost the market. In addition, the increasing popularity of eco-friendly paper packaging is expected to increase the market.
The consumption patterns of the hydrogen peroxide in the Asia Pacific region are different from those in the European region. For instance, the demand for hydrogen peroxide in the paper and pulp industry is higher in the APAC region. Consequently, the region is projected to dominate the market.